028 10 Money Lessons for Parents


Manage episode 303239577 series 1281827
Por Mel H Abraham, CPA, CVA, ASA, Mel H Abraham, CPA, CVA, and ASA descoberto pelo Player FM e nossa comunidade - Os direitos autorais são de propriedade do editor, não do Player FM, e o áudio é transmitido diretamente de seus servidores. Toque no botão Assinar para acompanhar as atualizações no Player FM, ou copie a feed URL em outros aplicativos de podcast.

Last August 2nd, Emily Ray, my first granddaughter, promoted me to the happiest man on earth. That got me thinking about the future, and coincidently, a soon-to-be mom I've met on a mastermind asked me what advice would I give, if any, to future parents. So I've decided to make this episode about the 10 lessons I would give to new parents about finances, and the best way of taking care of their children. In addition, I will share my latest framework, The Emily Factor ™.

What You Will Learn In This Episode:

- Why we must focus on raising empowered little ones with financial tools to develop a richer lifestyle

- The most critical investment we can make in our children

- Why transferring skillsets is widely more important than transferring assets

- The importance of a piece of mind fund, life insurance, and disability insurance

- Why we must learn to have tough conversations

- What is The Emily Factor ™, how it works, and how can we put it into practice

Understanding that our kids and grandkids came to this world to fulfill their dreams and not ours is perhaps one of the most challenging, yet most beneficial lessons we can ever learn. As long as they are not harming themselves or anyone else, our job as parents and grandparents is to support them and give them the tools and the help they need to accomplish their goals.


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